Mon, Jul 1, 2024 2:20 PM
Navigating market turbulence: How algorithmic trading adapts?
A Flip by Shubhangi Gupta
Wockhardt shares surged 40% in five sessions, hitting a 52-week high of Rs 943, driven by its promising antibiotics. The company's investigational drug Zaynich successfully treated a cancer patient in the US, and Nafithromycin is set to launch in India in a few months, potentially seizing market share from Azithromycin. With plans to launch Zaynich by FY26, the company aims to enter a $1.5 bn.
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SEBI has introduced a uniform exchange fee for all broking firms, regardless of their turnover, effective October 1. This move is expected to increase brokerage costs, particularly for discount brokers who currently offer zero or near-zero fees. The new rule may lead to a revenue loss of around ₹2,000 crore for the broking industry and a reduction in trading volume and price discovery.
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The India SME Forum has requested the govt to allocate Rs 5,000 crore for MSME development and promotion in the upcoming budget. The forum proposes establishing an export promotion organization to enhance India's competitiveness and exports. Additionally, industry bodies have recommended concessions for large companies joining the Trade Receivables Discounting System.
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